U6 Study Test

Front

Which of these is a common debit card fee? Bouncing a Check (not enough money in account to write the check), Using Direct Deposit, Making a purchase with your debit card, Having too much money in your account

Back

Bouncing a Check (not enough money in account to write the check)

Front

What is a negative aspect of using a debit card?

Back

The use of a debit card does not improve credit scores

Front

What is an advantage of using a credit card over a debit card?

Back

You can delay payment

Front

What does it mean to use a credit card?

Back

You owe a debt

Front

What happens if you do not pay your credit card in full at the end of the month? (For example, you just make the minimum payment)

Back

You are charged interest

Front

Why is paying only the minimum payment on a credit card an unwise financial choice?

Back

It increases the interest on it

Front

Bob has a high credit score and a long history of paying his debts on time. Which of these is most likely true about Bob? He is probably going to go into bankruptcy, He pays high interest on his debts, He has issues organizing bills, He makes responsible spending decisions

Back

He makes responsible spending decisions

Front

Which of these are a wise habit with credit cards: report a lost or missing credit card, pay one credit card bill with another, pay the credit card bill after its due date, spend until you reach the credit card limit?

Back

report a lost or missing credit card

Front

What type of car would most likely raise your insurance? Options: Crossovers, Sedans, Sports Cars, SUV's

Back

Sports Cars

Front

What is the name of A 3rd party holds money or property until certain terms are reached?

Back

Escrow